Gildan Completes Sale of HanesBrands Australia
Gildan intends to apply the net cash proceeds to outstanding debt repayment.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Gildan Activewear (GIL) completed the sale of HanesBrands Australia to BBFIT Investments for approximately A$700 million, paid in cash at closing.
The consideration equals approximately US$490 million. BBFIT Investments is an associated entity of BB Retail Capital, a global private investment firm. Gildan intends to use the net proceeds to repay outstanding debt. HanesBrands Australia had been classified as held for sale and reported as discontinued operations since the fourth quarter of 2025. The company described completion as another step in its ongoing integration plan.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointHanesBrands Australia sale completed for approximately A$700 million (approximately US$490 million), paid in cash at closing. 6.5% of market cap
- Minor point. Forward-looking: it has not happened yet and may not happen.Gildan intends to use net transaction proceeds to repay outstanding debt.
Negative
- None.
Key Figures
- Sale consideration
- Approximately A$700 million (approximately US$490 million)
- HanesBrands Australia sale; paid in cash at closing
Historical Context
-
Gildan agreed to sell HAA for A$700 million and direct proceeds to debt repayment.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
discontinued operations financial
forward-looking statements regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
MONTREAL, Oct. 26, 2026 (GLOBE NEWSWIRE) -- Gildan Activewear Inc. (“Gildan” or the “Company”) today announced it has completed the previously announced sale of HanesBrands Australia (“HAA”) to BBFIT Investments Pte Ltd, an associated entity of BB Retail Capital, a global private investment firm, for approximately
“The completion of this transaction represents another important step in the execution of our ongoing integration plan,” said Glenn J. Chamandy, Gildan’s President and CEO. “We remain focused on executing our integration priorities, capturing synergies and leveraging the strength of our brands. We thank the HAA team for its dedication and valuable contributions to the business and wish the entire team continued success under its new ownership.”
Caution Concerning Forward-Looking Statements
Certain statements included in this press release constitute “forward-looking statements” and “forward-looking information” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities legislation and regulations and are subject to important risks, uncertainties, and assumptions. These forward-looking statements include, amongst others, statements with respect to our beliefs, plans, expectations, anticipations, estimates, and intentions, including, without limitation, statements regarding the expected use of the net proceeds from the transaction. Forward-looking statements are subject to inherent risks and uncertainties and are based on several assumptions which give rise to the possibility that actual results or events could differ materially from our expectations. Material factors, which could cause actual results or events to differ materially from a conclusion, forecast, or projection in such forward-looking information, include, but are not limited to, those described in the Company’s management discussion and analysis (MD&A) for the year ended December 28, 2025. There can be no assurance that the expectations represented by our forward-looking statements will prove to be correct. Unless otherwise stated, the forward-looking statements contained in this press release are made as of the date of this press release, and we do not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise unless required by applicable legislation or regulation. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
About Gildan
Gildan is a leading manufacturer of everyday basic apparel. The Company’s product offering includes activewear, underwear, socks, and intimates sold to a broad range of customers, including wholesale distributors, screenprinters, embellishers, retailers or e-commerce platforms, as well as global lifestyle brand companies and directly to consumers. Gildan markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands including Gildan®, Hanes®, Comfort Colors®, American Apparel®, ALLPRO™, GOLDTOE®, Peds®, Bali®, Playtex®, Maidenform®, as well as Champion™ which is under an exclusive licensing agreement for the printwear channel in the U.S. and Canada and Polo Ralph Lauren® also under a licensing agreement.
Gildan owns and operates vertically integrated, large-scale manufacturing facilities which are primarily located in Central America, the Caribbean, North America, and Asia. Gildan integrates industry-leading labour, environmental, and governance practices into its operations and supply chain under a sustainability program that is aligned with its long-term business strategy. More information about Gildan and its sustainability commitments and initiatives can be found at www.gildancorp.com
| Investor inquiries: Jessy Hayem, CFA Senior Vice-President, Head of Investor Relations and Global Communications (514) 744-8511 investors@gildan.com | Media inquiries: Jonathan Binder Director, Corporate Communications (336) 519-6330 communications@gildan.com |
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much did Gildan receive for the HanesBrands Australia sale?
The sale consideration was approximately A$700 million (approximately US$490 million), paid in cash at closing. The buyer was BBFIT Investments, an associated entity of BB Retail Capital.
What will Gildan do with the HanesBrands Australia sale proceeds?
Gildan intends to use the net proceeds to repay outstanding debt. This is a planned use of the proceeds, rather than a completed debt repayment.